What would be the standards for getting an asset seizure? Would it be the individual or governments job to prove the asset? What would be the rules for conflict of interest? How does due process work? Who gets the money?
Does a mayor just get to seize assets rather than balance their city budget? Does the federal government get to pick and choose who gets inspected? If the taxpayers refuse to send bombs to Israel or Saudi Arabia, can the president run down a list of people who haven’t been inspected yet? Can somebody park the wealth in the Caribbean and do wire transfers multiple times a day? Since most of the wealth is imaginary numbers, what the fuck is a bureaucrat supposed to do with Nvidia stock inflated to the moon? Do we just dissolve companies where the populace cannot comprehend how it benefits the economy/society? Or disagree on the companies value? Taxpayers strongly believe both sides of AIs value (or potential) to the economy.
Civil asset forfeiture is bad regardless of who it happens to. We could fucking just prosecute them instead for corruption and pass more taxes for a bigger return of money. Make screwing over billionaires a sport on how to squeeze away all the profits they want to skim from the top.
Taxes. The answer is taxes and actual audits. We’ve been doing that sort of thing for a very long time, it’s just that the rich assholes have had access to the tax code.
A full audit every year, and then you simply tax any wealth over the 500M mark. It’s that easy.
I think the commenter above you is implying that if everyone knew that 500M was the cap, then every bubble would pop and the market would crash.
I think it’s a good idea. If you can’t survive the rest your life on 500M then you’re doing things way too lavish for any society to support.
(And that doesn’t mean you couldn’t invent and work and make more than you spend, keeping your worth at 500M indefinitely)
A full audit every year, and then you simply tax any wealth over the 500M mark. It’s that easy.
If, hypothetically, those audits ended up costing more than the additional tax revenue they yield, resulting in overall tax revenue decreasing, would you still want to do it?
I’m actually betting that a full audit of everyone who even claims to be worth more than, say, 100 million, would send most of these fucks to jail for financial crimes. Which is worth it on its own.
What would be the standards for getting an asset seizure? Would it be the individual or governments job to prove the asset? What would be the rules for conflict of interest? How does due process work? Who gets the money?
Does a mayor just get to seize assets rather than balance their city budget? Does the federal government get to pick and choose who gets inspected? If the taxpayers refuse to send bombs to Israel or Saudi Arabia, can the president run down a list of people who haven’t been inspected yet? Can somebody park the wealth in the Caribbean and do wire transfers multiple times a day? Since most of the wealth is imaginary numbers, what the fuck is a bureaucrat supposed to do with Nvidia stock inflated to the moon? Do we just dissolve companies where the populace cannot comprehend how it benefits the economy/society? Or disagree on the companies value? Taxpayers strongly believe both sides of AIs value (or potential) to the economy.
Civil asset forfeiture is bad regardless of who it happens to. We could fucking just prosecute them instead for corruption and pass more taxes for a bigger return of money. Make screwing over billionaires a sport on how to squeeze away all the profits they want to skim from the top.
Taxes. The answer is taxes and actual audits. We’ve been doing that sort of thing for a very long time, it’s just that the rich assholes have had access to the tax code.
A full audit every year, and then you simply tax any wealth over the 500M mark. It’s that easy.
I think the commenter above you is implying that if everyone knew that 500M was the cap, then every bubble would pop and the market would crash.
I think it’s a good idea. If you can’t survive the rest your life on 500M then you’re doing things way too lavish for any society to support. (And that doesn’t mean you couldn’t invent and work and make more than you spend, keeping your worth at 500M indefinitely)
If, hypothetically, those audits ended up costing more than the additional tax revenue they yield, resulting in overall tax revenue decreasing, would you still want to do it?
I’m actually betting that a full audit of everyone who even claims to be worth more than, say, 100 million, would send most of these fucks to jail for financial crimes. Which is worth it on its own.